The new law that expands the limit of payroll-deductible loans for retirees during the pandemic allows the suspension of payments of the installments of the loans for 120 days. The determination is in Article 4 of Law 14,131, sanctioned yesterday by President Jair Bolsonaro.
The banks claimed that these payments could not be suspended due to the lack of a legal basis. With the measure, this type of argument will no longer be possible, and retirees who made these credit operations may request suspension of payments.
The law provides for the possibility of suspending the loan installments for four months, with the maintenance of the contracted interest. The proposal was presented by parliamentarian from Ceará Danilo Forte (PSDB), authorizing the granting of a grace period, for up to 120 days, for new credit operations.
The new loan contracts, with automatic discount on the payroll, must be preceded by clarification on the total effective cost and the term for full settlement of the intended amount.
By law, it is also authorized to increase from 35% to 40% the limit of the payroll deductible loan margin for INSS retirees and pensioners based on the amount of the benefit.
Of this limit, 35% are for payroll loans and 5% for credit cards. The increase is valid until December 31, 2021 and was published this morning in the Federal Official Gazette.
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